Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Annuities

MedAmerica introduces simple LTCI account

Your article was successfully shared with the contacts you provided.

Simplicity. It’s something everyone would like in life, especially from insurance coverage. MedAmerica Insurance Co. has a product intended to make paying for long term care services simple, and it is aptly called Simplicityii. The product allows consumers to create a Cash Benefits Account in amounts varying from $100,000 to $1 million, which can grow over time, instead of purchasing a potentially confusing LTCI policy.

When the policyholder becomes benefit eligible, he receives a monthly cash benefit check from his account. The check is made out to the policyholder and is issued whether he receives LTC services or not; he can use the funds as he sees fit.

“Everyone understands a bank account,” said Christopher Perna, president of MedAmerica. “Why not enable people to have an account set aside for their long term care needs? Like a bank account withdrawal, benefits are paid in cash to the policyholder.”

In addition, Simplicityii offers the CareDirections Family Advice and Advocacy Program, which gives families access to professionals who consult with the family on creating a plan of care, obtaining services and identifying solutions for personal needs. MedAmerica also offers policyholders discounts on provider services and prescription drugs.

For more information, visit


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.